The pair recently bounced off the 50% fib retracement and is resuming the downtrend. Stochastic is heading down reserving a sell signal. A break below the 23.6% fib level will take us to the monthly support level 1.26742. A break lower could open the door to 1.2526.
The pair formed a double top at the monthly pivot with bearish divergence. Stochastic on the 4hr timeframe is approaching 80 indicating the pair might resume the downtrend after the short-term retracement. We have strong resistance at the 50% fib which is also the weekly pivot(neckline of the double top). It's recommended to place sell limit orders at 0.66300...
The index has formed a double bottom at the support level with bullish divergence. Expect price movement towards the highlighted resistance level. A break above that resistance should take us to new highs.
In the daily timeframe, we saw a double top formation and the price dropped to the support level(neckline) as forecasted in my previous analysis. The price has bounced off to the first support turned resistance. JPY has strengthened in the past few days indicating that this might be just a slight pullback before the price continues dropping. Considering the double...
if the price breaks below today's low we'll most likely get to the 3307 support level. We've got bullish divergence on the H1 timeframe indicating the price might resume its uptrend soon. Should the price drop to the mentioned support level, we'll be on the lookout for a trend reversal confirmation (double bottom) before opening long orders. Alternatively, a...
This setup will be invalidated should the price close above 1947.
Price bounced off resistance, RSI divergence on 1H,4H & D1 timeframes. Expecting price movements towards the first tp around 125.630, a confirmed break below that will take us all the way down to 124.335 .
Eurcad is in a very strong downtrend. Expect a pullback towards resistance level 1.45800 or 1.46120 from where we can add short positions.